Business Insurance: Insurance well suited to blockchain

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Business Insurance: Insurance well suited to blockchain

NEW YORK — The insurance industry may be better suited for blockchain than the financial services sector, which created its own solution, according to a panel discussion hosted Monday by the New York City Bar Association.

Blockchain holds promise for insurance by lowering costs. Paul Meeusen of B3i and Swiss Re says this technology is well suited to deal with some key issues in insurance where some 50% of premiums are eventually used to pay for indemnity.

Read the full article from Matthew Learner of Business Insurance here where Paul Meeusen explains how B3i is planning to change this.

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